Continental to create 30.000 new jobs by 2020 image

Continental AG, (Conti ) the German manufacturer of tires, brake systems, vehicle stability control systems, engine injection systems, tachographs and other parts for the automotive and transport industries could increase its number of employees in 2020 to 30,000.

The automotive supplier expects further growth in the coming years.

“In 2009 we had a turnover of 20 billion euro and little more than 130,000 employees. We currently have 164,000 employees and we expect for 2011 revenues of at least € 29.5 billion. Since we want to continue this growing, it’s just a matter of time before our workforce will reach 200,000 employees.” Dr. Elmar Degenhart, Executive Board Chairman Continental AG said on the German newspaper Handelsblatt.

In addition, Continental AG (CON.XE) expects electric cars to succeed quicker than previously expected, and wants to expand in this segment in the next few years, despite increasing economic risks.

“Continental has the opportunity to expand through the elector-mobility operations. If there are potential opportunities, we will take it,” Degenhart adds.

Third-quarter revenues increased from €6.5bn to €7.7bn while net income attributable to shareholders jumped from €14.1m to €210.7m. Earnings per share were €1.05, compared with €0.07 during last year’s third quarter.